Locust Wood Capital Advisers LLC lessened its stake in Apollo Global Management Inc. (NYSE:APO – Free Report) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 336,837 shares of the financial services provider’s stock after selling 64,137 shares during the period. Locust Wood Capital Advisers LLC’s holdings in Apollo Global Management were worth $48,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in APO. Plato Investment Management Ltd grew its stake in Apollo Global Management by 100.3% during the 3rd quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider’s stock worth $1,440,000 after buying an additional 5,452 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in shares of Apollo Global Management by 48.7% in the third quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider’s stock valued at $6,997,000 after acquiring an additional 17,204 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Apollo Global Management by 11.0% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider’s stock worth $120,017,000 after acquiring an additional 89,439 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Apollo Global Management by 23.6% during the third quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider’s stock worth $84,029,000 after acquiring an additional 120,558 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Apollo Global Management by 4.0% in the 3rd quarter. Swiss National Bank now owns 1,257,314 shares of the financial services provider’s stock valued at $167,562,000 after acquiring an additional 48,400 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.
Insider Activity at Apollo Global Management
In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.
Apollo Global Management Price Performance
Apollo Global Management (NYSE:APO – Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the business posted $1.82 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.
Apollo Global Management Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is 143.31%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Barclays boosted their price target on Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Morgan Stanley decreased their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lowered their target price on Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.23.
View Our Latest Stock Analysis on Apollo Global Management
Apollo Global Management Profile
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
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